Corcept Therapeutics Incorporated (NASDAQ:CORT)‘s stock had its “buy” rating restated by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday. They currently have a $24.00 target price on the biotechnology company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 28.41% from the company’s previous close.

CORT has been the topic of a number of other research reports. Stifel Nicolaus initiated coverage on shares of Corcept Therapeutics in a report on Thursday, August 31st. They issued a “buy” rating and a $20.00 price target on the stock. Ladenburg Thalmann Financial Services set a $20.00 price target on shares of Corcept Therapeutics and gave the stock a “buy” rating in a report on Tuesday, July 18th. BidaskClub raised shares of Corcept Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. Finally, Zacks Investment Research lowered shares of Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.17.

Corcept Therapeutics (NASDAQ CORT) traded up 7.01% during trading on Wednesday, reaching $20.00. 1,849,978 shares of the company traded hands. Corcept Therapeutics has a 12-month low of $6.11 and a 12-month high of $20.77. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 100.00 and a beta of 2.12. The firm’s 50 day moving average price is $17.66 and its 200 day moving average price is $13.17.

Corcept Therapeutics (NASDAQ:CORT) last announced its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $35.56 million for the quarter, compared to analyst estimates of $31.37 million. Corcept Therapeutics had a net margin of 22.28% and a return on equity of 51.45%. The company’s revenue was up 80.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.01 EPS. Equities research analysts expect that Corcept Therapeutics will post $0.42 earnings per share for the current year.

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In other news, Director David L. Mahoney sold 6,994 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $12.50, for a total value of $87,425.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David L. Mahoney sold 6,091 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $12.50, for a total transaction of $76,137.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,091 shares of company stock valued at $451,138. Corporate insiders own 19.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Suntrust Banks Inc. lifted its position in shares of Corcept Therapeutics by 4.0% in the 2nd quarter. Suntrust Banks Inc. now owns 12,308 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 471 shares during the period. Strs Ohio lifted its position in shares of Corcept Therapeutics by 2.0% in the 2nd quarter. Strs Ohio now owns 72,900 shares of the biotechnology company’s stock worth $860,000 after purchasing an additional 1,400 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of Corcept Therapeutics by 0.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 347,171 shares of the biotechnology company’s stock worth $4,097,000 after purchasing an additional 2,360 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in shares of Corcept Therapeutics by 5.6% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 56,303 shares of the biotechnology company’s stock worth $617,000 after purchasing an additional 2,992 shares during the period. Finally, American International Group Inc. lifted its position in shares of Corcept Therapeutics by 7.1% in the 1st quarter. American International Group Inc. now owns 46,000 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 3,042 shares during the period. 61.48% of the stock is owned by hedge funds and other institutional investors.

Corcept Therapeutics Company Profile

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

Analyst Recommendations for Corcept Therapeutics (NASDAQ:CORT)

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